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Option Chart Studies

The Ochart Study menu enables you to select a study. The study menu enables you to change the X and Y axis metrics. To display the Ochart Study menu, select Study from the Option Chart menu:

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The X axis study is the independent variable passed to the options pricing model; in other words, it is the pricing model parameter that varies across the X axis while the other pricing model parameters are held constant. The default study for the X axis is the underlying price.

X Axis Study
X Axis Metric
Label
Price
Underlying price (Default)
<symbol>
Time
Time to expiration
Days
Volatility
Volatility
Vlty
Rate
Interest rate
Rate
Frate/Yield
Foreign currency interest rate or stock dividend yield
Frate/Yield

The Y axis study is the dependent variable that the pricing model calculates for the whole strategy as the X axis variable, or independent variable, changes. By default, the Y axis measures total profit and loss. The default units for the Y axis scale is currency (i.e., Pounds); the scale can be changed to show points of the underlying. The Y axis can display any of the following studies:

Y Axis Study
Y Axis Metric
Label
Profit & Loss Total
Total profit and loss (Default)
P&L
Profit & Loss Today
Daily profit and loss.
P&Ld
Profit & Loss Market
Market profit and loss.
P&Lm
Market Value
Open trade equity.
Value
Delta
Strategy delta
Delta
Gamma
Strategy gamma
Gamma
Theta
Strategy theta
Theta
Vega
Strategy vega
Vega
Rho
Strategy rho
Rho
Frho
Strategy foreign interest rho
Frho

Below we show four Y axis studies (P&L, Delta, Gamma, and Theta) versus two X axis studies (Price and Volatility) in an option chart that has been split into eight windows:

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For more information on splitting charts, please read Splitting Option Charts.